Question
In: Math
A linear cost function is C(x) = 7x + 800. (Assume C is measured in dollars.)...
A linear cost function is
C(x) = 7x + 800. (Assume C is measured in dollars.)
(a) What are the slope and the C-intercept?
| slope | |
| C-intercept |
(b) What is the marginal cost
MC ?
MC =
What does the marginal cost mean?
If production is increased by this many units, the cost decreases by $1.Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost increases by $1.Each additional unit produced costs this much (in dollars).
(c) What are the fixed costs?
$
(d) How are your answers to parts (a), (b), and (c) related?
slope = fixed costs, and C-intercept = marginal cost
| C-intercept |
| slope |
= marginal cost
| slope |
| C-intercept |
= marginal costslope = marginal cost, and C-intercept =
fixed costs
(e) What is the cost of producing one more item if 50 are
currently being produced?
$
What is the cost of producing one more item if 100 are
currently being produced?
Solutions
milcah answered 2 years agoRelated Solutions
The demand function for a particular product is given by D(x)=3x2−7x+110‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√D(x)=3x2−7x+110 dollars, where x is the...
The demand function for a particular product is given by
D(x)=3x2−7x+110‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√D(x)=3x2−7x+110 dollars, where x is
the number of units sold. What is the marginal revenue when 44
items are sold? Round your answer to 2 decimal places.
D(x)=3x2−7x+110‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√t
thats a suqare root over the numbers
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show your
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Let R(x), C(x), and P(x) be, respectively, the revenue, cost, and profit, in dollars, from the...
Let R(x), C(x), and P(x) be, respectively, the revenue, cost,
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